ONDO price has taken a dip lately with the general crypto market, but this might actually be good news for investors. According to an analysis, we could be witnessing the perfect setup for a major price reversal that might send ONDO soaring by up to 3.5 times its current value.
Cryptogenous, a crypto analyst, has been keeping a close eye on ONDO chart movements. They’ve noticed something important: ONDO has dropped down to a critical trendline, just as they expected it would. But here’s the exciting part: there’s been a strong reaction at this level, showing clear signs that buyers are stepping in.
“I expect ONDO to hold this level as support and reverse to the upside targeting the 1.618 fib at $3,” notes Cryptogenous. This technical target represents a substantial gain from where ONDO currently sits.
ONDO Price History Could Repeat
Cryptogenous has identified an interesting pattern. Every time ONDO has touched this specific trendline in the past, something remarkable has happened – the price has surged by around 300%, consistently reaching the 1.618 Fibonacci extension level.
If this pattern holds true once again, investors who position themselves correctly could be in for substantial returns in the coming weeks or months.
For those interested in this potential move, Cryptogenous offers two straightforward approaches:
You could start gradually building a position through dollar-cost averaging (DCA) while prices remain at these levels. This strategy helps spread out your entry points and potentially lower your average cost.
If you prefer a more cautious approach, you might wait for a confirmed breakout before jumping in. This gives you additional confirmation that the reversal is actually happening, though potentially at the cost of missing the earliest part of the move.
Read Also: Experts Predicts XRP Price Will Hit ‘Double Digits This Cycle, Triple Digits Next’ – Here’s Why
Smart investing isn’t just about entries – it’s about knowing when to walk away. Cryptogenous provides a clear invalidation point at $0.59. If ONDO’s price drops below this level, it might signal that the bullish thesis isn’t playing out as expected.
That said, they emphasize that ONDO remains in an uptrend when viewed on higher timeframes, suggesting the overall direction still points upward despite short-term fluctuations.
Cryptogenous believes the token is “seriously undervalued at these levels” and presents “a great risk/reward investment” opportunity.
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